Wednesday, December 04, 2024

Remember that Bitcoin crash of a few days ago?

Sudden Panic Sparks $200B Bitcoin and Crypto Price Crash

Comments

The URL from then...
www.forbes.com

There was a drop from near $100k to around $90.

On that thread I said, "It's just Bitcoin being Bitcoin."

And I provided a link to another example of such a move.

Well, guess what, this evening Bitcoin is back to (actually over) $100,000.

But, taking a step back from the day to day prices, I have to ask, why Bitcoin?

What is propping up that valuation?

My current opinion is that Bitcoin's price has risen due to the inherent anti-establishment aspect of Bitcoin.

imo, Bitcoin is all about decentralized finance. And that is appealing of late.


#1 | Posted by LampLighter at 2024-12-04 10:14 PM

What is propping up that valuation?

Same thing as $150 bbl oil.....hype.

#2 | Posted by Nixon at 2024-12-05 08:31 AM

Put all your money in tulips.

#3 | Posted by LegallyYourDead at 2024-12-05 12:44 PM

.... and look at it now, 5 Dec - over 100k.... trump effect!

#4 | Posted by MSgt at 2024-12-05 01:37 PM

Of course Bitcoin is all speculative with absolutely nothing backing it, so IMO if one bought it much cheaper in the past, maybe a good time to sell and take profits.

#5 | Posted by MSgt at 2024-12-05 01:38 PM

Trump effect=15% unemployment and 1.2 million dead Americans

#6 | Posted by reinheitsgebot at 2024-12-05 01:41 PM

Those are piker's numbers.

Just give Trump 4 years.

We'll really see some death and destruction.

#7 | Posted by ClownShack at 2024-12-05 01:42 PM

Drudge Retort Headlines

Trump Calls for Abolishing Debt Limit (30 comments)

Adult Entertainment Giant Pulls Out of Florida (30 comments)

Musk Suddenly Realizes He Has No Clue How to Govern (23 comments)

Trump's Coming House Headaches (20 comments)

Trump's Shutdown Is A Disaster For Military Families (18 comments)

I should have Invaded Ukraine Earlier, Putin tells Russians in TV Marathon (17 comments)

Lousiana Bars Health Dept. from Promoting Vaccines (14 comments)

Trump's Transition Is Happening over Private Emails (13 comments)

Musk Raises Alarms by Endorsing What's Known as 'German neo-Nazi party' (11 comments)

Rand Paul Floats Elon Musk for Speaker (11 comments)